Equity
€14,757
CDW has made a profit without a break since 2022.
CDW
Part of the group
Institutions Qualitatives dédiées au Handicap et à la Santé
5 companies
See the group
Lifetime
19 annual accounts with figures on one time axispeak €340,785 (2025)
€340,785▲ 30×
lowest -€206,002 (2012)
€335,164▲ 44×
peak €14,757 (2025)
€14,757▲ €335,164
€4.0m▼ 7.3%
Board5 names since 2019
3 directorsLudovic Coulon and 2 others
Owners2 names in the annual accounts
Documentsfilings and deeds
27-08-202627 days late
2025abbreviated format
Gross margin from €11,481 to €340,785Result from €7,582 to €335,164Equity from -€320,407 to €14,757Cash from €137,643 to €247,761
Key points
from the 2025 annual accountsResult
€335,164 ▲ 44×
The result rose in 2025: different schema filed.
Turnover
≈ €810,000 estimated
The accounts state no turnover.
Debts
€4.0m 100% of the balance sheet
Suppliers 40%Taxes and wages 1%Other 59%
Of this, €4.0m falls due within a year.
Filings
19 annual accounts since 2007
Six of the last ten came late. The 2016 accounts came latest: 60 days after the end of the period.
Position in the sector
0.4%
Lower solvency than 89% of companies in construction of buildings. Sector median 38.6% · 2,818 companies.
Checked score
85
Excellent
Financially stronger than 39% of small companies in construction of buildings (NACE 41)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.3% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.4% across 911 companies (NACE 41, small).
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 1.1%
01-2025: 1.1%● unchanged vs 12-2024
02-2025: 1.1%● unchanged vs 01-2025
03-2025: 1.1%● unchanged vs 02-2025
04-2025: 1.2%▲ +0.1 percentage points vs 03-2025
05-2025: 1.5%▲ +0.3 percentage points vs 04-2025
06-2025: 1.8%▲ +0.3 percentage points vs 05-2025highest value
07-2025: 0.8%▼ -1.0 percentage point vs 06-2025
08-2025: 1.2%▲ +0.4 percentage points vs 07-2025
09-2025: 1.5%▲ +0.3 percentage points vs 08-2025
10-2025: 0.5%▼ -1.0 percentage point vs 09-2025
11-2025: 0.5%● unchanged vs 10-2025
12-2025: 0.5%● unchanged vs 11-2025
01-2026: 0.5%● unchanged vs 12-2025
02-2026: 0.5%● unchanged vs 01-2026
03-2026: 0.5%● unchanged vs 02-2026
04-2026: 0.5%● unchanged vs 03-2026
05-2026: 0.6%▲ +0.1 percentage points vs 04-2026
06-2026: 0.7%▲ +0.1 percentage points vs 05-2026
07-2026: 0.7%● unchanged vs 06-2026
08-2026: 1.1%▲ +0.4 percentage points vs 07-2026
09-2026: 0.3%▼ -0.8 percentage points vs 08-2026lowest value
10-2026: 0.3%● unchanged vs 09-2026
11-2026: 0.3%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Sector: Construction of residential and non-residential buildings (NACE 41)
Equity €14,757 (0.4% of total assets)
lowers risk
Size: total assets €4.0m
Figures for financial year 2025 (filed on 02-09-2026)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 41, small). It does better than 8% of them on solvency, 9% on liquidity, 46% on profitability and 94% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Credit verdict
Credit of up to €1,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.33 (0.3 in 2024), below 1. Short-term debt is 99.6% and cash 6.2% of total assets. 99.6% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 11% of 2818 sector peers (2025).
NBB · sector comparisonPosition among 2818 sector peers
Solvency
better than 11%
← weakest
strongest →
raises risk · 2025 accounts filed 27 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
27 days late
2024
29 days late
2023
22 days late
2022
117 days early
2021
4 days early
2020
172 days early
2019
50 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 38 days before the deadline. In the sector (NACE 41), the median for financial year 2024 was on the deadline day, and 46% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 23 August (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- Institutions Qualitatives dédiées au Handicap et à la Santé 100%score 53equity €57,082 (2025) · 28-02-2025 annual accounts of Institutions Qualitatives dédiées au Handicap et à la Santé
Shares in 3 companies, including IMMO VILLERS HIPPO SANTE and IMMO CHIMAY SPORT SANTE
Board & ownershipRecent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0880474938
2 directors appointed, 1 resignation
Resignation: Nathalie Lefèbvre (managing director) · Appointments: OUT OF THE BOX CONSTRUCT (OTBct) and Aurélie Vanderbeck · Permanent representative: Yves Legrain · Board meeting of 20-10-2023 · Gazette deed
Purpose change
“Tous biens immobiliers, tant construits qu'à construire, tant en Belgique qu'à l’étranger, ainsi que tous…” (deed in French) · General meeting of 28-04-2023 · Gazette deed
Registered office moved from Nalinnes to Ham-sur-Heure-Nalinnes
New registered office: rue d'Acoz 9/B, 6120 Ham-sur-Heure-Nalinnes · Previous registered office: rue d'Acoz 53, 6120 Nalinnes · Appointments: Nathalie Lefebvre (director) and Ludovic Coulon (director) · Board meeting of 03-05-2023 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| CDW Ham-sur-Heure-Nalinnes | €4.0m | €340,785 | 0.4% | - |
| IMMO-MAURESSEE Charleroi | €6.9m | €225,419 | 69.3% | - |
| MUSSCHE INVEST Sint-Niklaas | €3.8m | €287,833 | 17.6% | - |
| MARTEAUX Etienne-Constructions en bois Hamois | €3.0m | €546,672 | 65.2% | 2 |
| GenM OG Maaseik Jette | €2.6m | €220,387 | 72.1% | - |
| PEBS GROUP Hamont-Achel | €2.4m | €477,802 | 16.6% | 2 |
| DG2 Binche | €1.8m | €204,417 | 3.6% | 3.1 |
These companies have the same main activity as CDW: general construction of other non-residential buildings (NACE 41003). They are comparable in size and age: total assets between €1.8m and €6.9m, founded between 2006 and 2010.
Official details
Source: KBO- Status
- Active since 04-04-2006Normal situation
- Registered office
- 22 active companies are registered at this addressSource: KBO register, as of 10 November 2026.
- Activity
- General construction of other non-residential buildingsNACE 41003and 6 others
- Establishment unit
- 2.298.743.8106120 Ham-sur-Heure-Nalinnes, since 06-02-2020
- Financial year end
- 31 December
- Peppol
- Reachable since 27-03-2026
Companies linked to CDW
Subsidiaries and holdings
Insights on CDW
CDW files the abbreviated format. That format states no turnover. The gross margin rose from -€17,663 in 2007 to €340,785 in 2025.
Institutions Qualitatives dédiées au Handicap et à la Santé holds all the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about CDW
- What is the company number of CDW?
- The company number of CDW is 0880.474.938. The VAT number is the same number with BE in front: BE 0880.474.938.
- Where is CDW based?
- The registered office is at Rue d'Acoz 9, 6120 Ham-sur-Heure-Nalinnes.Company details
- What does CDW do?
- According to the KBO register, the main activity is general construction of other non-residential buildings (NACE 41003).
- What is the legal form of CDW?
- CDW is a private limited company (BV).
- When was CDW founded?
- CDW was founded on 04-04-2006.
- Is CDW still active?
- Yes, CDW is an active enterprise in the KBO register.
- What is the turnover of CDW?
- The turnover in financial year 2025 is ≈ €810,000. This figure is estimated from the gross margin of €340,785 and 35 comparable companies (NACE 410). It probably lies between €620,000 and €1.3m.Financials
- Is CDW profitable?
- In financial year 2025, CDW made a profit of €335,164.
- Where can I find the annual accounts of CDW?
- CDW filed 19 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of CDW due?
- CDW must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can trust this company with building work.Contractor check Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Check which of your other customers you can e-invoice via Peppol.Peppol check See the other companies in the same group.Institutions Qualitatives dédiées au Handicap et à la Santé · 5 companies
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